State Street Corp Cuts Stake in Hecla Mining (NYSE:HL)

State Street Corp trimmed its holdings in shares of Hecla Mining (NYSE:HL - Free Report) by 14.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,189,111 shares of the basic materials company's stock after selling 4,277,174 shares during the period. State Street Corp owned 4.17% of Hecla Mining worth $174,681,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quadrature Capital Ltd bought a new position in Hecla Mining in the 3rd quarter worth approximately $356,000. Quantinno Capital Management LP lifted its stake in shares of Hecla Mining by 27.9% during the third quarter. Quantinno Capital Management LP now owns 16,932 shares of the basic materials company's stock valued at $113,000 after acquiring an additional 3,691 shares during the period. Point72 DIFC Ltd acquired a new stake in Hecla Mining in the third quarter worth about $580,000. Jacobs Levy Equity Management Inc. acquired a new position in Hecla Mining during the 3rd quarter valued at about $170,000. Finally, Centiva Capital LP lifted its holdings in Hecla Mining by 419.5% in the third quarter. Centiva Capital LP now owns 190,409 shares of the basic materials company's stock valued at $1,270,000 after buying an additional 153,754 shares during the period. Institutional investors and hedge funds own 63.01% of the company's stock.

Hecla Mining Trading Down 2.5 %

Shares of NYSE:HL traded down $0.14 on Friday, hitting $5.39. The company had a trading volume of 4,538,640 shares, compared to its average volume of 9,351,786. The stock has a 50 day moving average price of $6.14 and a 200 day moving average price of $5.88. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.09 and a quick ratio of 0.54. Hecla Mining has a 1-year low of $3.33 and a 1-year high of $7.68.

Hecla Mining (NYSE:HL - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. The business had revenue of $245.09 million during the quarter, compared to the consensus estimate of $232.03 million. Hecla Mining had a positive return on equity of 0.75% and a negative net margin of 2.27%. The firm's quarterly revenue was up 34.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.01) EPS. On average, sell-side analysts expect that Hecla Mining will post 0.06 earnings per share for the current fiscal year.

Hecla Mining Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st were issued a $0.0138 dividend. This represents a $0.06 annualized dividend and a yield of 1.02%. The ex-dividend date was Thursday, November 21st. Hecla Mining's dividend payout ratio is currently -125.00%.

Insider Activity

In related news, VP Kurt Allen sold 108,612 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $6.77, for a total value of $735,303.24. Following the completion of the transaction, the vice president now owns 173,700 shares of the company's stock, valued at $1,175,949. This represents a 38.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on HL shares. TD Securities lowered their target price on shares of Hecla Mining from $8.50 to $8.00 and set a "buy" rating for the company in a research note on Friday, November 8th. National Bank Financial cut Hecla Mining from a "strong-buy" rating to a "hold" rating in a report on Friday, November 8th. Finally, StockNews.com cut shares of Hecla Mining from a "hold" rating to a "sell" rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Hecla Mining currently has an average rating of "Moderate Buy" and a consensus price target of $7.94.

About Hecla Mining

Hecla Mining Company, together with its subsidiaries, provides precious and base metal properties in the United States, Canada, Japan, Korea, and China. The company mines for silver, gold, lead, and zinc concentrates, as well as carbon material containing silver and gold for custom smelters, metal traders, and third-party processors; and doré containing silver and gold.